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September 19, 2013

Morgan Stanley Grabs 5 Reps, 1 Branch Leader

The new additions, who came over from rival firms, have some $4.8 million in production and $730 million in client assets

Morgan Stanley (MS) said late Thursday that it recently recruited five financial advisors and one branch manager from rivals.

The advisors have about $732 million in client assets and nearly $5 million in yearly fees and commissions, or production.

Robert Finan and Anthony LaFonte joined Morgan Stanley in Red Bank, N.J., last Thursday from Bank of America-Merrill Lynch (BAC). The two advisors, who do business as the Finan Group, have combined annual production of more than $2 million and have managed about $400 million in client assets.

The team now reports to complex manager Chris Shaw.

Stanley Alintoff moved to Morgan Stanley’s office in Westport, Conn., in mid-August from UBS (UBS). The advisor, who has some $1.8 million in yearly fees and commissions and more than $230 million in client assets, will be supervised by branch manager Patrick Tiani.

The Overton and Englund team, which includes Steve Overton and Gary Englund, started work for Morgan Stanley in Tampa on Sept. 12. The two moved from the traditional employee channel of Raymond James (RJF), which is based in nearby St. Petersburg.

The new team now reports to Dan Cedro, branch manager. It has combined annual production of $982,000 and prior assets of more than $100 million.

Tony Thorpe left UBS for Morgan Stanley on Sept. 10 as a branch manager in Franklin, Tenn. Thorpe had been with UBS for 15 years and most recently was the bank’s complex manager in the area, where he supervised 16 advisors.